Published: 2025-09-25T01:05:23.000Z
Chart EUR/JPY Update: Extending gains
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Consolidation below the 174.50 high has given way to break to extend the underlying bull trend
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 178.00 | * | figure | S1 | 173.90 | ** | Jul high | |
| R3 | 176.00 | * | figure | S2 | 173.00 | * | Aug high, congestion | |
| R2 | 175.40 | ** | July 2024 year high | S3 | 172.14 | ** | 9 Sep low | |
| R1 | 175.00 | * | figure | S4 | 171.00 | * | 14 Aug low, congestion |
Asterisk denotes strength of level
01:00 GMT - Consolidation below the 174.50 high has given way to break to extend the underlying bull trend from the February/August 2024 double bottom. Clearance opens up room to the 175.00 figure but focus will turn to the 175.40, 2024 multi-year high. Would expect reaction at the latter as daily studies push deep into overbought areas. Meanwhile, support is at the 173.90 July high and extending to 173.50 congestion which should underpin. Would take break here to open up room for deeper pullback to support at 173.00 and 172.14/00 support.